Brazil’s newly regulated gambling market is setting the stage for a surge in mergers and acquisitions in 2025, but sector experts warn that legal challenges, including consumer litigation, could follow closely behind.
The market has attracted nearly 300 federal license applications from operators, while NEXT.io understands that Brazil’s federal gambling regulator, the Secretariat of Prizes and Betting (SPA) initially anticipated around 40 applications.
Despite a hefty price tag — operators must pay R$30m for a license and hold an additional R$5m in financial reserves — operators rushed to secure their place in Brazil’s burgeoning gambling industry.
Around 80 federal licenses have now been issued. Of these, 49 companies have received definitive authorization, with the rest holding provisional licenses.
